Currency exchange rates have entered a phase of relative stability in Cuba, or at least that can be inferred after this Wednesday, for the fourth consecutive day, a day without changes in the informal trading of the three currencies in use on the island, as revealed by the daily report from the independent media elTOQUE.
The dollar remains valued at 387 CUP; and the euro is also unchanged, holding steady at 435 CUP per unit.
In the case of the Freely Convertible Currency (MLC), the virtual currency used by the regime in some stores at the moment remains at 225 CUP.
Despite the lack of visible changes, the median selling prices over the last 24 hours continue to show selling prices for the euro at 440 CUP; and a spike up to 390 for the US dollar.
Exchange Rate Evolution
Exchange rate today 07/23/2025 - 9:26 a.m. in Cuba:
Exchange rate of the dollar USD to CUP according to elTOQUE: 387 CUP.
Exchange rate of the euro EUR to CUP according to elTOQUE: 435 CUP.
Exchange rate from MLC to CUP according to elTOQUE: 225 CUP.
Equivalence of United States Dollar (USD) to Cuban Peso (CUP), according to the exchange rates on this July 23rd:
1 USD = 387 CUP.
5 USD = 1,935 CUP.
10 USD = 3,870 CUP.
20 USD = 7,740 CUP.
50 USD = 19,350 CUP.
100 USD = 38,700 CUP.
Equivalence of Euro bills (EUR) to Cuban Peso (CUP):
1 EUR = 435 CUP.
5 EUR = 2.175 CUP.
10 EUR = 4,350 CUP.
20 EUR = 8,700 CUP.
50 EUR = 21,750 CUP.
100 EUR = 43,500 CUP.
200 EUR = 87,000 CUP.
500 EUR = 217,500 CUP.
Last week, the Cuban Prime Minister, Manuel Marrero Cruz, announced before the National Assembly of People's Power (ANPP) that a new "management, control, and currency allocation mechanism" will be implemented in the second half of 2025, as part of the so-called “Government Program to correct distortions and rejuvenate the economy.”
According to Marrero, the new model will include the transformation of the official currency exchange market, the consolidation of financing schemes, and the supposed more efficient redistribution of the foreign currency generated by state-owned enterprises.
Meanwhile, the informal market continues to set the pace, the Cuban peso is worth less and less, and remittances from emigrants are the support for millions of households.
Cubans are still forced to buy dollars on the street to purchase food, medication, or to pay for immigration procedures.
For a long time, experts have warned that any attempt to reorganize the currency system without an inclusive policy will only serve to deepen inequality. Without real access to foreign currency, the population is trapped in a parallel economy that punishes the most vulnerable.
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